Italian Ministry will hold 70% of Sparkle

When Telecom Italia Spa sells the new Sparkle, a solid public majority could be expected with the Ministry of Finance at 70%, while Asterion would have 30%.

Italian Ministry will hold 70% of Sparkle

This could be the future shareholding structure that the buyers of the submarine cable company are working on, waiting to formulate a binding offer.

"The new governance balances, which will obviously have to pass the scrutiny of the Golden Power, could also include another key element: a CEO of Sparkle representing the Spanish fund but, in any case, with joint approval".

The negotiations for the sale of Sparkle are progressing

At the beginning of October, the board of directors of TIM gave the CEO, Pietro Labriola, the mandate to negotiate to reach a binding offer from the Mef-Asterion consortium by November 30.